Helmerich & Payne, Inc. to Post Q3 2024 Earnings of $0.91 Per Share, Zacks Research Forecasts (NYSE:HP)

Posted by on Jun 5th, 2023

Helmerich & Payne, Inc. (NYSE:HP – Get Rating) – Equities researchers at Zacks Research lifted their Q3 2024 earnings estimates for Helmerich & Payne in a research report issued on Thursday, June 1st. Zacks Research analyst N. Choudhury now expects that the oil and gas company will post earnings of $0.91 per share for the quarter, up from their prior estimate of $0.90. The consensus estimate for Helmerich & Payne’s current full-year earnings is $4.16 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q2 2025 earnings at $0.92 EPS and FY2025 earnings at $3.38 EPS.

Several other brokerages have also recently issued reports on HP. Citigroup dropped their price objective on shares of Helmerich & Payne from $42.00 to $33.00 in a research note on Friday, May 19th. Barclays dropped their price target on shares of Helmerich & Payne from $65.00 to $52.00 in a research note on Tuesday, May 9th. The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $44.00 to $38.00 and set a “sell” rating for the company in a research note on Monday, March 27th. Susquehanna dropped their price target on shares of Helmerich & Payne from $45.00 to $40.00 in a research note on Friday. Finally, VNET Group reissued a “maintains” rating on shares of Helmerich & Payne in a research report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and an average target price of $52.90.

Helmerich & Payne Stock Up 5.6 %

HP stock opened at $33.51 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.43 and a debt-to-equity ratio of 0.20. Helmerich & Payne has a 52 week low of $30.41 and a 52 week high of $54.59. The stock has a market capitalization of $3.44 billion, a P/E ratio of 11.02 and a beta of 1.66. The firm has a 50-day simple moving average of $34.26 and a 200-day simple moving average of $41.68.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HP. Goldman Sachs Group Inc. boosted its stake in Helmerich & Payne by 260.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,965 shares of the oil and gas company’s stock worth $50,222,000 after purchasing an additional 848,198 shares during the period. Invesco Ltd. lifted its position in Helmerich & Payne by 157.8% during the 1st quarter. Invesco Ltd. now owns 1,254,467 shares of the oil and gas company’s stock worth $53,667,000 after acquiring an additional 767,791 shares during the period. Capital Research Global Investors lifted its position in Helmerich & Payne by 83.1% during the 1st quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock worth $54,683,000 after acquiring an additional 579,949 shares during the period. Squarepoint Ops LLC lifted its position in Helmerich & Payne by 274.7% during the 1st quarter. Squarepoint Ops LLC now owns 680,664 shares of the oil and gas company’s stock worth $24,334,000 after acquiring an additional 499,024 shares during the period. Finally, Earnest Partners LLC lifted its position in Helmerich & Payne by 909,679.6% during the 4th quarter. Earnest Partners LLC now owns 491,281 shares of the oil and gas company’s stock worth $24,353,000 after acquiring an additional 491,227 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

About Helmerich & Payne

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Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.

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Earnings History and Estimates for Helmerich & Payne (NYSE:HP)

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